Search Results for: Tornado Cash

Binance has reopened TORN deposits after a security breach on privacy-focused crypto mixer Tornado Cash DAO. Despite the hack, Tornado Cash’s protocol was not impacted, but concerns arise over potential risks and vulnerabilities in decentralized systems. Binance’s decisive actions, like monitoring projects, aim to ensure better stability and security.

The hacking of an older version of Yearn Finance saw the exploiter mint over 1 quadrillion Yearn Tether, resulting in $11.6 million in stolen stablecoins. Despite crypto mixer Tornado Cash sanctions, the hacker laundered nearly $9.3m worth of loot, raising concerns about the long-term effectiveness of such sanctions and the need for evolving security measures in the crypto community.

Arbitrum-based decentralized exchange Swaprum allegedly conducted a rug-pull, swiping around $3 million of customer deposits. The culprits took 1,628 Ether from the platform’s liquidity pools and laundered it through Tornado Cash. The incident highlights challenges in crypto security and the importance of user vigilance and thorough research before investing.

“Despite an 80% fall in North Korean crypto heists, forensics firm Chainalysis warns against assuming an improved security landscape. Adaptive hacking techniques, including reliance on Russian-based exchanges for laundering stolen crypto, pose ongoing threats. This situation, potentially feeding North Korea’s missile program, invites international intervention and underscores the need for enhanced cryptocurrency security measures.”

Recently, a crypto lender, SwirlLend, scammed the newly launched Base platform, resulting in a significant loss of cryptocurrency and trust. This incident, second in a few days, has raised security concerns and emphasizes the necessity for robust cybersecurity measures in the crypto realm.

The Decentralized Finance (DeFi) platform Zunami Protocol has suffered a price manipulation attack involving its stablecoin pools on Curve Finance, leading to potential losses of over $2.1 million. The exploit participants reportedly used a flash loan to significantly alter the price, resulting in stolen funds. The event underscores the necessity of stringent security measures for DeFi ecosystems.

“Rodeo Finance on the Arbitrum network lost 472 ether ($888,000) in a crypto exploit. The hacker utilized Oracle manipulation techniques to adjust price feeds and exchange stolen tokens into diverse assets, before converting them back into ether. Such incidents highlight the increasing risk and vulnerability in the DeFi domain.”

“The recent exploit of the Arbitrum-based Rodeo Finance, causing a loss of $1.53 million, underscores blockchain’s vulnerability. The incident questions protocol safety, emphasizes need for robust security, smart contract auditing, and user responsibility. The exploitation also raises skepticism towards the shift to Decentralized Finance.”

“Reports from Multichain developers confirm an exploit that affected $130 million in user tokens, urging users to halt any use of its service. The news affected Multichain’s MULTI tokens that dropped 13% within 24 hours. Bridge-based crypto exploitations have reportedly caused the disappearance of an estimated $2.66 billion in the last few years.”

The Arbitrum-based project Chibi Finance conducted a rug pull scam, stealing over $1 million worth of tokens using a malicious contract. This highlights the challenges and pitfalls in decentralized finance (DeFi) and the need for investors to exercise caution and conduct due diligence.

Hackers exploited Atomic Wallet for over $100 million, using THORChain to conceal their tracks by converting stolen ETH to BTC. Connected to the North Korean group Lazarus, these hackers have a history of attacking crypto exchanges and using chain-hopping techniques to launder funds.

Atomic Wallet faced a cyberattack resulting in over $100 million in losses, affecting 5,500 crypto wallets. Blockchain analysis company Elliptic attributed the theft to the Lazarus Group and highlighted the crucial need for enhanced security measures and vigilance in the growing crypto market.

Sturdy Finance, a DeFi lending protocol, recently suffered an exploit resulting in a loss of 442 ETH (around $768,800). The platform has paused activity for investigation. The attacker allegedly manipulated the price oracle of a collateral pool, draining funds from Sturdy using a re-entrancy attack.